Stock Market Today: Stocks lower with key inflation report on deck

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U.S. equity futures slipped lower in early Wednesday trading, while Treasury yields and the dollar extended their recent pullback, as investors braced for a crucial August inflation report prior to the start of trading.

Stocks ended mixed following back-and-forth session on Tuesday, with tech stocks powering a modest afternoon advance in the S&P 500 and the Nasdaq following a notable pullback in Treasury yields and a slump in global oil prices.

The moves reflected growing concern over the fate of the U.S. economy, which has avoided recession despite one of the most aggressive cycles of Federal Reserve rate hikes on record, heading into the final months of the year and beyond.

Stocks Wednesday will likely focus on the August CPI inflation report, which is expected to show a notable decline in the headline reading with core prices, which strip away food and energy costs, holding steading at 3.2%.